St Ives Town Council has appointed Pembrook Ltd to begin the restoration of the Grade II listed building.

The Harlow-based company has worked previously on two major projects with local businessman Mike Purchas, who has said he will project manage the work on the dilapidated Market Hill venue for £700,000.

Pembrook's first task will be to work with Stephen Johnson Consulting Engineers, who are currently completing their structural report, to finalise the building's designs.

The designs will take into account the comments made by user groups and individuals during the recent consultation.

The company will then be responsible for overseeing the next stage of the works from the appointment of the construction team through to completion.

The Corn Exchange closed in 2001 due to structural instability and was being prepared for sale as repair estimates of over £1 million were considered too expensive. The decision to sell the site was only abandoned when Mr Purchas came in with his offer last year.